Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
HC allowed the petition challenging the rejection of an application under Vera Samadhan Yojna, 2019. The court found the respondent's literal interpretation of the Amnesty Scheme inappropriate, particularly given the lack of prior intimation about interest shortfall. The HC quashed the order rejecting the application, directed restoration of the Amnesty Scheme benefits to the petitioner, and ordered refund of Rs. 4,78,833/- recovered from the petitioner's bank account, with 9% per annum interest from the date of recovery until repayment.
HC allowed the petition challenging the rejection of an application under Vera Samadhan Yojna, 2019. The court found the respondent's literal interpretation of the Amnesty Scheme inappropriate, particularly given the lack of prior intimation about interest shortfall. The HC quashed the order rejecting the application, directed restoration of the Amnesty Scheme benefits to the petitioner, and ordered refund of Rs. 4,78,833/- recovered from the petitioner's bank account, with 9% per annum interest from the date of recovery until repayment.
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